Archives

EU Sanctions Against Russia

The EU first adopted restrictive measures against the Russian Federation back in 2014, in response to Russia’s annexation of Crimea and Sevastopol and the destabilisation of Ukraine. Since then, the EU has massively expanded the sanctions, following Russia’s military aggression against Ukraine and its decision to recognise the non-government-controlled areas of the Donetsk and Luhansk oblasts as … Continue Reading

COVID-19: Your Employment-related Questions Answered – Slovakia

The current pandemic situation in the Slovak Republic caused by fast-spreading coronavirus disease (COVID-19) raised several challenging issues for Slovak employers. The aim of this alert is to provide answers to some of the most frequent employment law related questions that worry the employers and provide them with lead on how to handle this tense … Continue Reading

National Bank of Slovakia Launches Fintech Innovation Hub

On Friday 29 March 2019, the Economic University in Bratislava hosted the recurring session of the Center for Financial Innovations established by the Slovak Ministry of Finance. We participate in these sessions, along with other representatives of academics, banks and fintech companies. The focus of the event was a discussion related to the EU’s action … Continue Reading

Improvements of Slovak Cadastral Act

On 1 October 2018, the amendment to the Slovak Cadastral Act came into effect. The Amendment introduced a number of provisions that speed up and improve the registration of real estate with the Cadastral Register. Selected provisions of the Amendment are outlined below.… Continue Reading

EU Action Plan for the European FinTech Sector and its Polish Context

On 8 March 2018, the European Commission (EC) published its long-awaited new FinTech Action Plan. The EC understands FinTech to be technology-enabled innovation in financial services, and the strategy covers developments related to new technologies which are changing the financial industry and the way consumers and firms access services. At the same time, the action … Continue Reading

What board members and executives should know about impact of the Proposed Amendment to the Commercial Code on Personal Liability?

Are you already a board member or executive of a Slovak company or about to become one? If so, you should know about the proposed amendment to the Slovak Commercial Code. The amendment aims to address the so-called “white horses” and “tunneling (asset stripping)” of the companies. The amendment should come into force on 1 January 2018. As … Continue Reading

Draft Regulation of Capital Funds in Slovakia

Recently, the Ministry of Justice of the Slovak Republic (the “Ministry”) published a draft of amendment to the Slovak Commercial Code (the “Draft Amendment”) for public consultation. The Draft Amendment contains numerous substantial changes which we will discuss in series of separate blog posts. This post will look at the provisions relating to capital funds … Continue Reading

The Digitalization of Slovakia

The Central Government Portal The creation of the Central Government Portal (CGP) has signaled the beginning of the digitalization of Slovakia. The CGP is an information system designed to provide users with official electronic communication with public authorities and with centralized and unified access to information resources through a single entry point. Over the course … Continue Reading

EU Plans Changes in Investor Dispute Settlement Mechanism

The system of investment protection is experiencing radical changes at the level of the European Union (EU). While so far, the protection of foreign investments was guaranteed by bilateral agreements, this is about to change and a unified multilateral system is proposed to be established. How does this initiative influence investor-to-state dispute settlement mechanism (ISDS)? … Continue Reading

New Personal Insolvency Regime in Slovakia

Starting from March 1, 2017, the Slovak personal insolvency regime will change. The new system aims to make personal insolvency available to a wider debtor audience, while keeping it simple and cost efficient. Today, only individuals with assets over €1,659.70 can seek declaration of bankruptcy. Otherwise, the proceedings could be stopped and the doors to … Continue Reading

Immediate Effects of Decisions of the European Commission

Since entry into the European Union in 2004, CEE countries have gradually adapted to the applicability of European Union laws and the European Union’s system of transnational independent institutions – both of which directly or indirectly influence the business environment in individual member states. It is, however, the European Commission’s representation and promotion of the … Continue Reading
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